15 Sept 1983
LLOYDS BANK INTERNATONAL LTD AND ANOTHER v. DERICOURT INVESTMENTS LTD AND OTHERS
- Citation
- LLOYDS BANK INTERNATONAL LTD AND ANOTHER v. DERICOURT INVESTMENTS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA4480/1983
On construction the Facility Letters reserved to the lenders the right at their sole discretion to reduce or withdraw the facility and, after the review date, the facilities could be treated as callable (effectively overdrafts); the defendants did not establish triable issues based on the express terms or proposed implied terms; the earlier fraud proceedings did not amount to an irrevocable election to repudiate the loan contracts; triable issues were established in respect of alleged Paliburg share‑purchase arrangements and as to consideration for certain guarantees; summary judgment was the…